Common use of Leases of Real Property Clause in Contracts

Leases of Real Property. All leases pursuant to which the Company or any Subsidiary is lessee or lessor of any real property (the “Leases”) are listed on Schedule 3.13 and are valid and enforceable in accordance with their terms. There is not under any of such Leases (a) any material default or any claimed material default by the Company or any Subsidiary or any event of default or event which with notice or lapse of time, or both, would constitute a material default by the Company or any Subsidiary and in respect to which the Company or such Subsidiary has not taken adequate steps to prevent a default on its part from occurring or (b) to the knowledge of the Company, any material default by any lessee of the Company or any Subsidiary or any event of default or event which with notice or lapse of time, or both, would constitute a material default by any such lessee. The copies of the Leases heretofore furnished to Buyers are true, correct and complete, and such Leases have not been modified in any respect since the date they were so furnished, and are in full force and effect in accordance with their terms. The Company and each Subsidiary is lawfully in possession of all real properties of which it is a lessee (the “Leased Properties”).

Leases of Real Property. All leases pursuant to which the Company or any Subsidiary is lessee or lessor of any real property (the “Leases”"LEASES") are listed on in Schedule 3.13 and are valid and enforceable in accordance with their terms. There is not under any of such Leases leases (ai) any material default or any claimed material default by the Company or any Subsidiary or any event of default or event which with notice or lapse of time, or both, would constitute a material default by the Company or any Subsidiary and in respect to which the Company or such any Subsidiary has not taken adequate steps to prevent a default on its part from occurring occurring, or (bii) to the knowledge of the CompanyShareholders, any material default by any lessee of the Company or any Subsidiary or any event of default or event which with notice or lapse of time, or both, would constitute a material default by any such lessee. The copies of the Leases heretofore furnished to Buyers Buyer are true, correct and complete, and such Leases have not been modified in any material respect since the date they were so furnished, and are in full force and effect in accordance with their terms. The Company and each Subsidiary is lawfully in possession of all real properties of which it is a lessee (the “Leased Properties”"LEASED PROPERTIES").